Not entirely but mostly true. This is what happened.
i. A terrorist of JeM was killed in an encounter.
ii. The terrorist's supporters (meaning a large part of the population) poured into the streets.
iii. Indian forces fired blank rounds (no civilian casualties)
iv. Tral is in South Kashmir and there was little to no Military presence at all before the incident. (see the pictures above - they are all the JnK Police)
The rest is common. The anti Hindu slogans, India flag burnings, beating up police constables etc are all very common instances.
However the KM leadership is using this only as a pawn. Since Hinduphobia is very popular in the area, the simple speeches of a possible return of non Muslim natives is enough to drive many people nuts.